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MoFEP aids micro-finance firms in Accra

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Seth Terkper - Finance Minister
Seth Terkper – Finance Minister

The Ministry of Finance and Economic Planning (MOFEP), under the Rural and Agriculture Finance Programme (RAFiP), has presented office equipment worth GH¢ 518,319.18 to some microfinance institutions in Accra.

The items, which include desktop computers with accessories, coloured and black and white printers, scanner machines, notebooks/laptops, projectors and  projector screens, were to support the data collection systems and reporting of institutional activities of the institutions.

The institutions include the Corporative Susu Collectors Association, Corporative Credit Union Association, Association of Financial NGOs, Ghana Association of Savings and Loans Companies, Ghana Microfinance Network and Ghana Association of Microfinance Companies.

Presenting the items, Major Rtd Mahama Samuel Tara, Chief Director of MOFEP, said the support came in recognition of the immense contribution of the institutions to the economic development of the country.

He said the donation formed part of RAFiP’s mandate to build institutional capacity to help strengthen apex institutions, membership of the rural microfinance institutions and the ARB Apex Bank.

Major Rtd Tara said the equipment was to boost their competence in the management process as well as maintain data for easier access when the need arose.

He expressed the hope that the equipment would be used for the intended purposes.

Mr Yaw Gyamfi, Executive Secretary of Ghana Microfinance Network, expressed appreciation to the ministry for the donation and that it would help reduce the challenges they encountered in service delivery.

He said the network was trying to put in the necessary measures to ensure that qualified operators of microfinance businesses were given licence to operate without any hindrance.

The goal of RAFiP is to improve the livelihoods of the rural population including smallholder farmers and rural micro entrepreneurs with a special focus on women and vulnerable groups.

Source: GNA

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